Tencent Mints Money From Mobile

Investors in Chinese Internet giant Tencent Holdings have something to cheer as the company turns mobile traffic into real money.

Tencent's first-quarter earnings were complicated by this year's deal-making frenzy, but underlying trends were promising. Net profit surged by 60% from a year earlier. This was partly due to one-time gains from the disposal of various investments, including two e-commerce units that Tencent traded to...